Foreclosure filings — default notices, auction sale notices and bank repossessions — were reported on 803,489 properties in the first quarter, a 9 percent increase compared with the fourth quarter of 2009 and an increase of nearly 24 percent from the first quarter of 2008, according to a RealtyTrac® report. One in every 159 U.S. housing units received a foreclosure filing during the quarter. Foreclosure filings were reported on 341,180 properties in March, a 17 percent increase compared with the previous month and a 46 percent increase compared with March 2008.
“It appears that demand is up in some of the harder-hit areas, particularly on bank-owned REO properties that first time homebuyers and investors see as bargains,” said James J. Saccacio, chief executive officer of RealtyTrac®. “But it’s unlikely that this increased demand will be enough to offset the growing number of foreclosures in the pipeline, accelerated by rising unemployment rates.”
http://www.realtytrac.com/ContentManagement/pressrelease.aspx?ChannelID=9&ItemID=6180&accnt=64847 click to read full article.
Liz Pulliam Weston has some good ideas on whether you are a stingy or a frugal person. There is a difference. Check her ideas here.
Read this article for information on Loan Modifications and how your government is planning to help your fellow citizens. http://mandelman.newsvine.com/_news/2009/04/06/2649424-what-i-now-know-about-the-foreclosure-crisis-loan-modifications?groupId=87
You should sleep well tonight now.
Well is there hope for homeowners who owe more on their homes than what they are worth? Yes there is always hope! See what Reuters has to say: http://www.reuters.com/article/GCA-Economy/idUSN2441697520090424
Me I still don’t see foreclosures and short sales dropping any time soon. We still has unemployment, no new jobs, and lack of new immigration of people being able to buy a home. Until those three sectors of our economy turn in opposite direction it is going to be difficult to Stop Foreclosures
To stop a foreclosure you can go to www.StartFreshLLC.com and read articles about time lines of a foreclosure and how you may be able to stop a foreclosure with proper action on your part.
I can help.
HOPE NOW applications available online Troubled borrowers hoping to participate in the Obama administration’s mortgage modification and refinancing programs now can apply online for help from their mortgage servicer. Borrowers can submit details about their financial situation at www.HopeNow.com, the Web site operated by the coalition of mortgage servicers and nonprofit counselors.
The online application form supplements the existing HOPE NOW hotline, (888) 995-4673, and servicers are promising to respond to applications within five to seven business days to confirm the process has begun
You may find more foreclosure information at www.StartFreshLLC.com